Quantenna Communications Inc (NASDAQ:QTNA) – Equities researchers at William Blair dropped their Q3 2019 EPS estimates for Quantenna Communications in a research note issued on Tuesday, April 30th, Zacks Investment Research reports. William Blair analyst now forecasts that the technology company will earn $0.12 per share for the quarter, down from their previous estimate of $0.13. William Blair currently has a “Market Perform” rating on the stock.
Quantenna Communications (NASDAQ:QTNA) last issued its earnings results on Monday, April 29th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Quantenna Communications had a net margin of 2.24% and a return on equity of 6.86%. The company had revenue of $57.68 million for the quarter, compared to analysts’ expectations of $57.49 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 27.8% on a year-over-year basis.
QTNA traded down $0.13 during trading on Thursday, hitting $23.91. The company’s stock had a trading volume of 927,601 shares, compared to its average volume of 959,695. Quantenna Communications has a one year low of $13.03 and a one year high of $24.48. The company has a market capitalization of $930.15 million, a PE ratio of 298.88, a PEG ratio of 3.09 and a beta of 1.02.
In other news, CEO Sam Heidari sold 2,147 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $17.93, for a total transaction of $38,495.71. Following the sale, the chief executive officer now directly owns 325,478 shares in the company, valued at approximately $5,835,820.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 52,147 shares of company stock worth $1,064,746 over the last 90 days. Insiders own 13.49% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of QTNA. ARP Americas LP purchased a new position in Quantenna Communications during the first quarter valued at $31,022,000. Water Island Capital LLC purchased a new position in Quantenna Communications during the first quarter valued at $26,228,000. FMR LLC grew its stake in Quantenna Communications by 240.2% during the first quarter. FMR LLC now owns 1,172,465 shares of the technology company’s stock valued at $28,526,000 after acquiring an additional 827,855 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in Quantenna Communications during the first quarter valued at $17,729,000. Finally, JPMorgan Chase & Co. grew its stake in Quantenna Communications by 31.1% during the third quarter. JPMorgan Chase & Co. now owns 2,230,121 shares of the technology company’s stock valued at $41,146,000 after acquiring an additional 529,520 shares in the last quarter. 71.06% of the stock is owned by institutional investors.
About Quantenna Communications
Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.
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